GBPUSD Daily Forecast: January 12

GBPUSD Forecast
The GBPUSD attempted to push lower yesterday, bottomed at 1.2037 but whipsawed to the upside and closed higher at 1.2207. The bias is neutral in nearest term. As you can see on my daily chart below, we have a strong/major support at 1.2000 region so seeing some GBP demand near that level should not be a surprise. Immediate support is seen around 1.2125. A clear break below that area could trigger further bearish pressure testing 1.2080/37 area. Immediate resistance is seen around 1.2235. A clear break above that area could trigger further bullish pressure testing 1.2300 region.

Comments

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